Mr. Abdul Ghafoor Malik, President-Sialkot Chamber, in a statement given to the press, has expressed his deep appreciation to the Government of Pakistan for easing restrictions on the import of raw material and input goods required by the value-added export sector of Pakistan. On December 27, 2022, the State Bank of Pakistan, vide EPD Circular Letter No. 20 of 2022 2022, allowed the imports of Raw Materials and input goods essential for the export-oriented industries with effect from January 02, 2023, onwards. The President shared that the issue was highlighted by Sialkot Chamber in Government Offices, especially in the meeting with Honorable Finance Minister Mr. Ishaq Dar on November 25, 2022. He was thankful that the Government took notice of the seriousness of the matter and issued the circular.
Mr. Malik said that the previous stipulation of seeking prior approval from the State Bank of Pakistan before initiating an import transaction had caused immense problems for the already crisis-struck export sector of Pakistan in general and Sialkot in particular.
The President Chamber termed it the right decision to create an enabling and business-friendly environment for the export industry that, under the dynamic leadership and progressive approach of Prime Minister Mian Muhammad Shahbaz Sharif, was committed to bringing Pakistan out of the economic turmoil to put it on the part of economic growth and prosperity.
Mr. Abdul Ghafoor Malik said that the business community of Sialkot had taken full cognizance of the prevailing Foreign Exchange crises and was all geared up to earn precious foreign exchange for the country. He also mentioned that putting restrictions on vital imports was never a solution that had created a sense of panic among the manufacturers cum exporters. The President expressed his heartiest gratitude to the Honorable Finance Minister Mr. Ishaq Dar, and the Honorable Governor State Bank of Pakistan Mr. Jameel Ahmad for honoring their commitments to protect the industry at all costs.
Mr. Malik also thanked the Honorable Defence Minister, Khawaja Muhammad Asif, for his active role in highlighting the issues of the industry of Sialkot among the Government Quarters. The President said that the Defence Minister’s unwavering support extended to the Sialkot Chamber, in its advocacy and lobbying efforts with the Government, had been instrumental and was bearing fruits in the shape of such timely and accurate measures on the part of the Federal Government.